GistReel
Atiku Abubakar, former vice president, has promised to reintroduce Nigeria’s petrol subsidy if he defeats President Bola Tinubu and wins the 2027 presidential election.
The African Democratic Congress (ADC) presidential candidate made the pledge during a Facebook Live session, where he discussed the economic consequences of the subsidy removal.
Atiku questioned the government’s management of the funds saved since the policy was scrapped in 2023.
Atiku questions use of subsidy savings
According to the former vice president, the removal of the subsidy should have freed funds for investment in essential sectors.
He questioned whether the money had been redirected to healthcare, education and security.
Atiku said his position on the subsidy had changed since its removal, adding that he would restore the policy if elected president.
He also demanded accountability from individuals accused of misappropriating public funds linked to the subsidy regime.
“I initially did not oppose the removal of fuel subsidy. But now that it has been removed, where is the money? Where has the subsidy money gone? Has it been used to improve healthcare, education or security?
“If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money.”
Tinubu ended subsidy in 2023
Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023.
The decision immediately altered the cost of petrol and contributed to higher transportation and living expenses for Nigerians.
The president has defended the policy, maintaining that the subsidy had become financially unsustainable for the country.